Utilities across the country are implementing a COVID-19 Response Plan. One of the areas of concern is new activations that require security deposits. Some are waiving deposits, others are seeking an alternative to secure the account while also easing the financial impact on the customer.
The Deposit Alternative Plan (DAP) could be the answer!
"As the economic toll from the coronavirus outbreak continues to mount, a new Pew Research Center survey finds the impact is falling more heavily on lower-income adults – a group that was feeling significant financial pressure well before the current crisis. Overall, 43% of U.S. adults now say that they or someone in their household has lost a job or taken a cut in pay due to the outbreak, up from 33% in the latter half of March. Among lower-income adults, an even higher share (52%) say they or someone in their household has experienced this type of job upheaval."
- Pew Reseach Center
If you are looking for ways to assist your customers as they get back on their feet, the Deposit Alternative Plan (DAP), can make a positive and immediate financial impact on their bottom line.
Email hello@depositalternatives.com to learn more and talk to a deposit professional today.